CenterPoint Energy Announces Sale Of Louisiana And Mississippi Natural Gas Assets

(RTTNews) - CenterPoint Energy, Inc. (CNP) announced the sale of its Louisiana and Mississippi natural gas LDC businesses to Bernhard Capital Partners, for $1.2 billion. The company said the assets include approximately 12,000 miles of main pipeline in Louisiana and Mississippi serving approximately 380,000 metered customers.

CenterPoint Energy noted that the sales price represents approximately 32 multiple of 2023 Louisiana and Mississippi LDC earnings. The Louisiana and Mississippi LDCs represent less than 4% of the company's overall rate base.

Bernhard Capital Partners is a services and infrastructure-focused private equity management firm.